Christmas Cheer for Construction Funding
Abstract:
The availability of construction funding remains fragile and is a major threat to construction starts and spending in 2008. Commercial developers report increasing difficulty obtaining construction financing with the full impact of this yet to seen in construction starts. The fixed rate subprime and jumbo residential mortgage markets are still short of funds and continue to ration credit with premium mortgage rates and tighter approval standards.
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The availability of construction funding remains fragile and is a major threat to construction starts and spending in 2008. Commercial developers report increasing difficulty obtaining construction financing with the full impact of this yet to seen in construction starts. The fixed rate subprime and jumbo residential mortgage markets are still short of funds and continue to ration credit with premium mortgage rates and tighter approval standards.